Cash for Clunkers a great success

Remember the “Cash for Clunkers” program last year? I know that everyone who is familiar with the program has their own take on whether it was a good idea. According to a new analysis by Maritz Research, an automotive market research company the program was better than even it’s supporters imagined!

From CNN.com:

NEW YORK (CNNMoney.com) — The government’s Cash for Clunkers program resulted in a far bigger boost to car sales than was previously estimated, even by the government, according to a new analysis by Maritz Research, an automotive market research company.

Maritz estimates that a total of 765,000 new vehicles were sold because of the program. Those cars wouldn’t have rolled off dealer lots without the offer, they say.

That’s more than double the Department of Transportation’s estimate of 346,000 sales that wouldn’t otherwise have been made.

Maritz’ estimate of additional new car sales resulting from the program is actually even larger than the total number of vehicles sold under Cash for Clunkers.

Read the full article here.


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Hundreds of GM dealers could get their stores back

Something just didn’t feel right about the way GM and Chrysler planned to shut down their dealers and now we might be witnessing a huge reversal. Stay tuned!

From the Detroit Free Press:

General Motors said today that it is sending letters to 661 dealers that lost their franchises through a dealership consolidation program, which will give them an opportunity to apply for reinstatement.

To qualify, the dealers would need to meet a number of financial requirements, such as having adequate capital to operate and available financing.

“This has been a very, very tough time as the company has emerged from bankruptcy,” said Mark Reuss, GM’s North America president. “It is emotional and it is part of the rebirth as we start the company from a clean slate.”

Read the full article here.


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Toyota owners up for grabs

To say that Toyota customers are up for grabs is an understatement! Waiting for at least one company to throw in a free cruise and free pizza for a year!

From the Detroit News:

Two of Toyota Motor Corp.’s competitors reversed course and said today they will join those offering incentives on trade-ins from Toyota owners.

Chrysler Group LLC and Hyundai Motor Co. are the latest to offer rebates. General Motors Co. and Ford Motor Co. were first to offer $1,000 incentives for Toyota owners through the end of February. Ford today said it also is increasing the amount of money it provides to dealers for advertising to allow them to capitalize on the opportunity created by Toyota’s woes.

Chrysler has spent the last two days mulling a change in its programs and had planned to wait until next week to announce its latest incentives.

Read the full article here.


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The Buick Regal is back for 2011

From our friend at TheBachelorGuy.com:

In my New York neighborhood back in the 80’s, when you were done with kid stuff and ready to get rid of your Camaro or Firebird, you graduated to either a Monte Carlo, or, if you really wanted to let go, a Buick Regal. (Although, if you still couldn’t give up the muscle car power, and you had the coin, you got the famed Regal Grand National.)

That was before the beloved car started sharing bodies and powertrains with the perennial senior citizen-magnet, the Buick Century. (I’m wondering if that’s why a lot of senior communities in Florida are called Century Village…) The car was mercifully put out of its misery in 2004.

But now it’s back… completely resurrected and redesigned as a true euro-inspired sports sedan.

Click here to read the rest of the article.

  

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